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THE COLLECTIVE CONVERSATION: APRIL 2024 SOLAR NEWS FOR NONPROFITS & INDUSTRY PROFESSIONALS



 

 April 2024

HeatSpring is widely recognized as a top online learning platform for solar and clean energy industries, with courses led by industry experts.

 

With over 270 free and paid courses on a variety of topics ranging from a Solar PV Bootcamp to NABCEP Certification prep to Utility-Scale Solar Construction & Project Management, the platform has been used by thousands of solar industry professionals and trainees.

CollectiveSun Partners with HeatSpring to Offer 

Free Course Bundle on Inflation Reduction Act Incentives for Nonprofits

 

Now, CollectiveSun has partnered with HeatSpring to offer a free series on the Inflation Reduction Act (IRA), which passed in August 2022. The IRA included groundbreaking incentives for clean energy, but since its passage, the industry has been scrambling to determine how to take advantage of this unprecedented opportunity.

 

At CollectiveSun, we’ve been closely following the features of the IRA that are making it easier for nonprofits to go solar. We’re all about providing education and information, so we welcomed the opportunity to share what we’ve learned in a HeatSpring bundle of four free courses, Inflation Reduction Act: Solar Provisions Explained.

 

The courses demystify some of the key solar provisions in the IRA, covering timelines, application processes, potential gotchas, and more. Our goal is to enable nonprofit organizations and tax-exempt entities to take advantage of these incentives to go solar — reducing emissions while saving money that they can use in service of their critical missions.

 

Our complimentary IRA bundle covers these topics, in manageable

60-minute courses: 

Direct Pay 

Low-Income Communities Bonus Adder 

Energy Community Bonus Adder

Domestic Content Bonus Adder

 

DIRECT PAY

 

The IRA introduced a provision in 2022 called Direct Pay (also known as “Elective Pay”) that creates an exciting pathway for nonprofit organizations to utilize tax credits. Before the IRA, the Investment Tax Credit (ITC) for solar was available only to taxable entities. That left tax-exempt and government entities, such as nonprofits, churches, and schools, out of the equation. Direct Pay changes that, opening the tax credit to nonprofits for the first time.

 

In this course, we review the features of Direct Pay, how to apply for it, and updates to be aware of as we move into the 2024 tax year. This information will be helpful for nonprofits who have placed a system in service during the 2023 tax year or are planning to place a system in service in the 2024 tax year and beyond. We also discuss the timing of filings, and we review Form 990-T and other forms that need to be completed.

 

LOW-INCOME COMMUNITIES BONUS ADDER

 

The Low-Income Communities Bonus Adder, another new incentive in the IRA, is unique in that only 1.8 GW are allocated per year. If the bonus adder application is approved, 10% or 20% is added to the base 30% ITC, creating a 40% or 50% ITC.

 

The Low-Income Communities bonus adder is meant to…

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Join in the conversation TODAY! about how going solar will serve to inspire others in your community and your congregation to take their own climate action steps. You’ll walk away knowing how to get started on a solar project, and feeling the support you need to get started. California Interfaith Power & Light and Interfaith Solar Campaign invite you to the information share! All faith denominations are welcome!

 

 

Faith Communities, Going Solar Together!

Lunch & Learn!

– WEBINAR –

Hosted by California Interfaith Power & Light

!!TODAY!!

Wednesday April 17th 12PM PT/3PM ET

Register Here

2024 Direct Pay Update! Final Regs Released Last Month!

Direct Pay conversations are everywhere! Let’s join in!

 

Here is a quick clip of our Chief Community Officer, Lee Barken, giving an update on the Inflation Reduction Acts’s Direct Pay final regulations that finalized last month!

5 Step Direct Pay Checklist!

Finding Direct Pay still a bit confusing? 

We Can Help!


Navigating the Direct Pay process for your organization’s solar system can be challenging, but you don’t have to do it alone.


CollectiveSun has developed a simple

5-part checklist to make the process smoother and ensure you get the most out of your investment.


Downloadable Direct Pay Checklist Link

A Call To Nonprofits

If your nonprofit organization is exploring going solar and your mission is to provide programs & services that support communities of concern benefitting:

  • Children
  • Veterans
  • Senior Citizens
  • Individuals with Disabilities
  • Historically Marginalized Groups 
  • At-Risk Individuals

If you’d like to learn more, schedule a meeting with Nicole here.

CollectiveSun is here to help you with your solar financing.

 

| Interest Rates Start at 4.99% |

| Rates Are Based On Community Impact, Not Just Credit Score |

| One Simple Payment | Term Length Up To 10 Years |

| Payment Holiday Durning Construction of System | No Prepayment Penalty |

 

Our goal is for you to end up with a solar system that reduces your carbon footprint and is a $0 down investment with a positive cash flow from day one, so it has an immediate impact on your bottom line. That’s what we want most for the organizations that are the backbone of our communities – financial and environmental sustainability that allows you to concentrate on your mission and reach your sustainability goals.

Navigating the world of solar financing can be daunting, but it doesn’t have to be. Our team of seasoned experts has been focused on delivering solar financing solutions for nonprofit and tax-exempt organizations across the country for over a decade. In just the last few years, we’ve proudly facilitated solar projects for over 200 nonprofits spanning 25 states.

At CollectiveSun, we understand that every nonprofit is unique, and that’s why we offer a diverse range of financing options. Whether you’re considering a loan like our CollectiveSun Solar Loan designed to support your purchase of a solar system while allowing you to benefit directly from the Direct Pay Tax Rebate; exploring leasing options like our CollectiveSun Solar Lease; or seeking a hybrid funding model like our CollectiveSun Solar Power Agreement (the SPA), we have the perfect solution to match your solar financing needs.

 

For those looking to dive deeper into how Direct Pay can benefit you, we’re excited to offer a free comprehensive course series on HeatSpring. This series covers not only Direct Pay but also the additional ITC bonus adders, providing you with all the information you need for when your filing is due.

 

📚 Enroll in the free course here:

CollectiveSun HeatSpring Direct Pay & More Course Series

 

You’ll discover how these incentives can make solar energy even more accessible and cost-effective for your nonprofit organization. Together, let’s harness the power of the sun to fuel your mission and create a brighter, more sustainable future for all.

 

Let’s connect and start the conversation!

ASU’s ‘Earth Day Every Day’ Chalk Art Competition merged sustainability and creativity, empowering students to express eco-consciousness through vibrant designs on April 2.

The U.S. Treasury Department’s final rule, issued under the Inflation Reduction Act, paves the way for organizations to receive more than 30% of a project’s cost in direct cash payments for clean energy investments:

United Nations executive climate secretary Simon Stiell said he knows his warning may sound melodramatic:

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